The Friedkin Group reaches agreement to buy Everton

[MikeH72]

I consider him as scummy as The S** at this point, an enemy of Everton and the people of Merseyside.

Vermin, total vermin.

He’s actively working against the best interests of the football club at this point so I no longer consider him an Evertonian. He is not one of us.

 

[Damo_1878]

Is this guy just gonna discredit everyone until he gets his preferred outcome? Which is his consortium with a small personal holding, utter madness

He's not discredited anyone. It's a comment that the lack of documents related to loans to Bonza, if replicated to Everton would create a due diligence issue to overcome for Freidkin Group.

It's a comment about how extraordinary a £70m to £80m loan can be given without any documentation. Contracts? Agreements? It is extraordinary.

Why people have suddenly thought this is some attempt to "discredit" Friedkin Group, I don't know?

Are people not reading this fully?

He has also said they (Friedkin Group) know there will be these issues.

IMHO luckily Friedkin Group are well capitalised and will get these things resolved.

 

[Goat]

He’s actively working against the best interests of the football club at this point so I no longer consider him an Evertonian. He is not one of us.

He never was 1 of us.

 

[toffee66]

Many of the articles referring to TheEsk’s latest piece are misleading. He merely noted that IF the lack of paperwork for 777 loans with Bonza airlines was repeated with us it MIGHT make due diligence a bit more complicated. He made it clear in response to questions he is 1 merely speculating and 2 does not think it would derail due diligence unless it was part of much wider issues re documentation/legality at Everton. In short it is a minor off-the-cuff observation that has been blown out of proportion by clickbait sites.

 

[Damo_1878]

Dan Friedkin may face difficulties in conducting due diligence on his proposed Everton takeover where it relates to 777 Partners and A-Cap, according to The Esk.

Writing on his website on 30 June the Toffees analyst reacted with surprise to administrators of 777’s Australian airline Bonza producing a Report to Creditors, with the document showing there was a lack of paperwork associated with the Miami-based firm’s troubled running of the company.

If you're in business and you see loans of £70m to £80m have been handed out without supporting documents, like contracts etc that would raise many eyebrows

Loans of tens of millions.

Its merely a comment of the type of issues Friedkin Group, it's lawyers and accountants in due diligence are getting to grips with. Nothing more

 

[Damo_1878]

Many of the articles referring to TheEsk’s latest piece are misleading. He merely noted that IF the lack of paperwork for 777 loans with Bonza airlines was repeated with us it MIGHT make due diligence a bit more complicated. He made it clear in response to questions he is 1 merely speculating and 2 does not think it would derail due diligence unless it was part of much wider issues re documentation/legality at Everton. In short it is a minor off-the-cuff observation that has been blown out of proportion by clickbait sites.

Good post.

I doubt it will derail anything given how much money Friedkin Group have to hand

What the lawyers will be noting is if there is lack of documentation then they have scope to try and get out of loan repayment potentially

Due diligence is them making sure they know what the situation is in the business incl. potential liabilities to their principal (Friedkin) before they acquire

So they are not going to face unexpected issues they can't deal with

Some of the comments on here don't match at all what was said, or the issue

Point is the Friedkin's are working through things. But it is this type of 777 Partners nonsense they have to get to grips with

 

[matty1878]

these are the new overlords

 

[Goat]

these are the new overlords

Not yet matty lad.

But soon, just a shame it's gonna be late.

Will probably be next Summer we get an idea of their plans.

 

[matty1878]

Not yet matty lad.

But soon, just a shame it's gonna be late.

Will probably be next Summer we get an idea of their plans.

maybe not mate ? still plenty of time for transfers if we can get it over the line

 

[kenada_blue]

Needs black listing that fella, absolutely toxic to the club.

He was planting that seed abar a week ago putting updates about the Bonza admin. When asked "why does this matter?" he said it's linked with the debt to the club etc.

He'll probably still wants us in admin

 

[Frenk]

oh crap financial kingpin of the world, Dan Plumley, warning Friedkin about investing loads a money in Everton.

 

[davek]

I consider him as scummy as The S** at this point, an enemy of Everton and the people of Merseyside.

Vermin, total vermin.

 

[Chewbacca]

No paperwork you say? So we can tell 777 to go and suck eggs regarding their loan repayments?

 

[Goat]

 

[vintage-toffees]

Not yet matty lad.

But soon, just a shame it's gonna be late.

Will probably be next Summer we get an idea of their plans.

Hope they have a 10 month plan leading to next Junes window from this summers ending

Keep the powder dry get good people In doing deals ready to go and learn about the club and what football we should be playing

And Don’t do Moshiri and go slap dash in January to win plaudits